WEX (NYSE:WEX) Receives "Equal Weight" Rating from Barclays

WEX (NYSE:WEX - Get Free Report)'s stock had its "equal weight" rating restated by stock analysts at Barclays in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $200.00 target price on the business services provider's stock, down from their previous target price of $207.00. Barclays's target price would indicate a potential upside of 15.08% from the company's current price.

Several other analysts also recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, October 25th. Bank of America boosted their target price on shares of WEX from $238.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group lifted their target price on WEX from $190.00 to $210.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Robert W. Baird decreased their price objective on WEX from $285.00 to $230.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their target price on WEX from $210.00 to $200.00 and set a "neutral" rating on the stock in a report on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, WEX presently has a consensus rating of "Moderate Buy" and an average target price of $228.64.

WEX Stock Performance

Shares of NYSE WEX traded down $3.48 during midday trading on Tuesday, hitting $173.79. 549,468 shares of the company's stock were exchanged, compared to its average volume of 360,548. The company's 50 day moving average price is $188.70 and its 200 day moving average price is $186.48. WEX has a 12 month low of $165.51 and a 12 month high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $6.91 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 earnings per share for the quarter, beating the consensus estimate of $3.82 by $0.53. WEX had a net margin of 12.45% and a return on equity of 31.35%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $688.03 million. During the same quarter last year, the firm earned $3.44 earnings per share. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that WEX will post 13.1 earnings per share for the current fiscal year.

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 175 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $189.44, for a total value of $33,152.00. Following the completion of the transaction, the chief operating officer now owns 7,582 shares of the company's stock, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WEX

A number of hedge funds have recently added to or reduced their stakes in WEX. Venturi Wealth Management LLC grew its position in shares of WEX by 206.1% in the third quarter. Venturi Wealth Management LLC now owns 150 shares of the business services provider's stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in WEX during the 3rd quarter worth $35,000. International Assets Investment Management LLC bought a new position in shares of WEX in the second quarter worth $33,000. Quarry LP boosted its stake in WEX by 717.4% during the second quarter. Quarry LP now owns 188 shares of the business services provider's stock valued at $33,000 after buying an additional 165 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of WEX by 456.1% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider's stock worth $40,000 after purchasing an additional 187 shares during the period. 97.47% of the stock is currently owned by institutional investors and hedge funds.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.